If you have basic knowledge of how the stock broking industry works and zeal to make extra bucks with affiliate marketing, enrolling with Upstox as a partner is your ultimate solution.

Upstox Partner program is recognized as a beacon of excellence in the sub-broker franchise business landscape.

The franchise is already a network of over 600 partners, including techies, educators, social influencers, Youtubers, etc.

You can receive per-trade commission and even fixed income on each account a client opens under your partner code. The more your referred customer trades with Upstox, the higher revenue you can generate.

Let’s jump to the Upstox Affiliate program review and uncover its perks, the enrolling criteria, commission, cost, and more.

Type of Broker Discount Broker
Total Partners 3500+
Total Investment Rs.3,000 – Rs.33,000
Partners Commission 30% – 40%
Avg. Monthly Profit Approx. Rs.1,26,000
Breakeven Time Within 1 month
Payout Time 30 days

Upstox Partner Program - Types of Business

Partner Program


Sub Brokership

Yes, Limited

Refer and Earn


Why Partner with Upstox?

Learn the benefits of joining the Upstox Affiliate program.

  • Upstox is backed by industry heavyweights, including GVK Davis, Ratan Tata, Kalaari Capital, and more, making it a strong business entity despite being a new entrant.
  • As India’s one of the fastest-growing brokerage houses, its partners will have the opportunity to grow with the company’s growth.
  • The franchise allows its partners to earn a whopping commission of 30% to 40%, one of the best among several new entrants.
  • In addition, the monthly average profit of partners can amount to Rs.1,26,000, which is relatively more than even venerable brokerage houses.
  • It provides access to flexible affiliate programs, including a partner program, refer & earn, and sub-brokership. You can enroll with any of these as per your budget and requirements.

Upstox Affiliate Cost or Investment

Security Deposit (One Time)


Exchange Charges (One Time)


Office Expenses (Monthly)

Zero - Rs.30,000

Upstox Partner Cost is a crucial factor influencing your decision to join the company’s partner program. So, let’s delve into the franchise’s affiliate cost or investment structure:

To attract and encourage more individuals to join and work with it as a partner, Upstox doesn’t charge a security deposit upon enrollment.

So, you don’t have to worry about paying any money upfront for the same.

However, you still have to incur a small expense of Rs.3,000 as exchange charges. It’s a one-time fee that every individual aspiring to become Upstox’s partner must pay.

Aside from exchange charges, you might have to invest some amount in office expenses. But the positive side is that office expenses are flexible.

Since opening an office is optional, your expenses can vary from zero to Rs.30,000.

Upstox Partner Commission

Revenue Sharing

30% - 40%

Per Client Acquisition


Even though Upstox is relatively fresh to the sub-broker market, it offers an excellent opportunity to earn decent commission and make profits compared to its competitors.

Per the franchise’s partner program, an affiliate can receive a commission when a person joins the firm through his referral link and when the referred client makes a deal.

The organization agrees to pay a specific percentage as Upstox Partner Commission, but this percentage can vary with the affiliate’s performance.

Therefore, the revenue-sharing rate of an affiliate can fall between 30% and 40%.

Heading to another point, i.e., partner’s income for acquiring clients. With each new account opened by the referred client, you can earn Rs.300.

Upstox Partner Profits or Income

Check out Profits & Expenses forecast of Upstox Affiliate Program.

Total Clients 915
Active Clients 300
Avg. Commission per Client 1,300
Total Brokerage 3,90,000
Partner’s Share (40%) 1,56,000
New Client Acquisition 50
Client Acquisition Income 15,000
Partner’s Gross Profit 1,71,000
Total Expenses 30,000
Partner’s Net Profit 1,41,000
Net Profit Margin 36%

You might wonder about potential Upstox Associate Profits before making any decision. So, here’s the scoop:

Upstox is trading and investing with 915 clients, of which 300 clients actively make deals. With each client making a deal with the franchise, partners can earn about Rs.1,300.

The average commission of Rs.1,300 from all these 300 clients adds up to Rs.3,90,000. Upstox allows its partners to keep a 40% share, i.e., Rs.1,56,000.

Meanwhile, you add 50 more clients to the company’s customer base. It adds Rs.15,000 more to your income for acquiring new clients. So, it brings your gross profit to Rs.1,71,000.

If you spend Rs.30,000 as total expenses, Upstox’s partner’s net profit will amount to Rs.1,41,000.

Upstox Partner Offers

Commission above 30%


Zero Investment


Free Advisory


Free Delivery Trading


Flat Brokerage Charges


1st Month Free Brokerage


Zero Brokerage on Loss Making Trades


Upstox recognizes its partners’ efforts to manage and develop their business. Therefore, you can access multiple Upstox Agent Offers to make your business more manageable and bearable.

The first and most lucrative offer that the franchise renders to its affiliates is allowing them to earn more than 30% of commission.

You can quickly increase your commission by improving your performance by adding more clients to the firm’s customer portfolio.

Upstox understands that most individuals striving to start a new business venture have a tight budget. That is why the brokerage house doesn’t ask for the initial investment as a security deposit.

Although you can’t get free professional advice from Upstox, you still can enjoy free trading delivery.

But it would be best if you bore the burden of flat brokerage charges and brokerage on loss-making trades.

Upstox Associate Program SWOT Analysis

Read further to study the strengths, weaknesses, opportunities, and threats of the Upstox Partner Program:


  • The franchise offers a 30% to 40% commission, one of the best among several new entrants.
  • It provides access to flexible affiliate programs, including the partner program, refer & earn, and sub-brokership, allowing partners to select as per their budget and requirements.
  • Upstox encourages more people to join its affiliate program by charging no security deposit.
  • It offers state-of-the-art technological solutions to manage and grow business online.
  • An overall rating of 9.32 from industry leaders gives a competitive edge to the brokerage house.


  • With no advisory support, partners sometimes find it challenging to run their business.
  • Upstox doesn’t provide marketing support, limiting partners’ reach.
  • An affiliate’s income is unpredictable as it varies, and some partners might find stated income unattainable.


  • The partner program can capitalize on marketing in the Indian market to add more clients to Upstox’s customer portfolio.
  • The franchise can expand its product line by offering foreign stocks, loans, and insurance.
  • It can tap into rural and semi-urban areas by offering more training and educational resources for increased financial literacy.


  • Established brokerage houses and new entrants can be fierce competitors for Upstox.
  • The uncertain Indian financial market with changing financial regulations and standards might impact the affiliate program’s operations.
  • Increasing job layoffs is reducing clients’ investing and trading capabilities.

Upstox Affiliate Program - Support

Acquisition Support


Products Training




Advisory Support


Backoffice Support


Marketing Support


At every phase, you will find Upstox Affiliate Support for assistance. The franchise makes sure to render needed support to all its affiliates so that they can work efficiently and bring more clients to it.

If you are a beginner, acquisition support can significantly help. A professional representative at Upstox will guide you on reaching targeted customers and converting them into the company’s actual clients.

Next, it is product training! The brokerage house periodically organizes product training workshops to educate its partners about existing or newly launched financial products.

You can learn all products’ characteristics, benefits, and other know-how during these workshops. Backoffice support is available for the affiliates facing hardships in completing administrative tasks.

Unfortunately, you can’t access webinars, advisory, and marketing support when working at Upstox as its partner.

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Upstox Partner Program - Office Requirement

Area in Sq. Ft.

100 - 200 Sq. Ft. (Optional)

No. of Employees

Atleast 2 (Optional)

Dealer Terminal


Mobile or Telephones


Call Recording


Laptops or Computers






Managers Cabin


Although opening an office for Upstox Agent is optional, having an official workplace can help you better manage and grow your business.

When considering setting up an office, you must look for a spec with 100 to 200 square feet of area. In addition, hire a minimum of two employees for your affiliate business.

Your office will be incomplete without mobile or telephone connections and laptops or computers.

However, setting up a dealer terminal, recording your calls, having a reception or manager’s cabin, and installing the CCTVs is optional.

Upstox Partner Dashboard Link

Web Platform

App Platform


Are you looking for an official link to the Upstox Partner Dashboard? If so, click the back-office link to redirect to the company’s official web platform.

You can use your partner dashboard after adding essential credentials and tapping the login tab.

Once you are at the partner dashboard, you can find many features and functionalities to keep up with the affiliate marketing game.

For example, you can view all vital reports on the dashboard and gain insights into your referred clients’ activities and your performance.

Upstox Affiliate Login

With Upstox Affiliate Login, you will be redirected to your partner dashboard. When you registered as the brokerage house’s partner, you must have received your unique login credentials.

Enter them in the box on the dashboard login page and tap the login button. At the dashboard, you can conveniently track all your clients, their activities, and the current status of their transactions in a single place.

In addition, your dashboard will automatically add referrals, track your earnings, monitor clients’ trading history, determine your brokerage fees, and do much more.

Upstox Associate Backoffice - Features

Lead Addition Link


Manual Lead Addition


Lead Stage Info


Lead Info Backend Change


Lead Deletion


Leads Report


Clients Activation Report


Clients Portfolio Report


Monthly Payout Report


Make all your administrative tasks easier to manage and complete with these Upstox Partner Backoffice features:

  • Lead Addition Link: We will first discuss the lead addition link feature. This link lets you quickly add new potential leads to your Upstox account.
  • Lead Stage Information: Next is the lead stage information feature. It helps you know all stages, from potential leads to actual clients. You can gain insights when a lead is interested in becoming a client and when a client turns into an active client.
  • Leads Report: This exclusive feature will provide insights into your lead activities and determine whether your lead generation efforts produce optimal results.
  • Clients Activation Report: This feature lets you know when your client actively trades or invests with Upstox. You can track their trading history, current transaction details, and other vital details.
  • Monthly Payout Report: A monthly payout report is helpful in knowing your monthly income and expenses.

Upstox Partner Desk

Call Support


Email Support

Are you having any queries or facing technical issues operating the partner dashboard? In such a case, you might look for Upstox for professional help.

Don’t worry; the franchise has got your back as it offers Upstox Partner Desk support.

You can access call support by calling 022-41792999 or email support at [email protected]. Once you have filed your complaint or query, you can expect a reply within a few days.

Upstox Remisier Review or Ratings by Finec.in

Overall Rating

9.32 / 10


9.28 / 10


9.43 / 10


9.36 / 10


9.26 / 10


9.24 / 10

Upstox Associate Program - Products Offered









Mutual Fund



Not offered

IPOs / FPOs / NCDs


Foreign Stocks

Not offered


Not offered


Not offered

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Upstox Affiliate Program - Trading Platforms Offered

Trading App


Web Trading Platform


Trading Terminal


Algo Trading Platform


Robo Advisory Platform


Thematic Investment Platform


Foreign Stocks Investment Platform


Backoffice Platfrom


How to Become a Upstox Partner? - Eligibility Criteria





Academic Qualification


NISM Certificate

Yes, Compulsory

Are you considering running an affiliate marketing business with Upstox? If yes, you must know that not anyone can collaborate with the franchise as its partner or affiliate.

It will help if you thoroughly research how to Become an Upstox Agent. The brokerage house has specified some eligibility requirements for its partner program.

  • The to-be partner must be above 21 years old. Additionally, they must be Indian.
  • An individual applying to become Upstox’s partner must graduate from a recognized university.
  • An applicant must have a National Institute of Securities Market (NISM) certificate.

Once the brokerage house confirms that you meet the eligibility criteria, you are asked to submit some documents.

These documents can include a partner agreement, identity proof, address proof, PAN, bank account details, passport size photo, and bank cancelled cheque.

Upstox Dealership - Documents Required

Partner Agreement


Identity Proof - Aadhaar


Address Proof - Aadhaar / Rental Agreement




Passport Size Photo


Bank Account Details


Bank Cancelled Cheque


Upstox Affiliate Program – Conclusion

Joining the Upstox Affiliate Program is open to anyone meeting eligibility criteria.

If you are business-minded, hungry for success, and familiar with the stockbroking profession, becoming an Upstox affiliate is the right path for you.

The franchise is a budget-friendly option to do business with as it doesn’t ask for a security deposit, and exchange charges are pretty reasonable.

Moreover, you can leverage exclusive tools, platforms, features, support, and resources as a partner. So, what are you waiting for? Build an incredible revenue stream with the Upstox partner program.

FAQs on Upstox Associate Business

Check out various FAQs related to Upstox Associate Business.

Does Upstox provide a Partner Program?

Yes, Upstox provides a partner program for the eligible candidates. If you are Indian, your age is above 21 years, and you hold a NISM certificate, you can enroll as Upstox’s partner and generate an additional revenue stream.

How many Associate Partners does Upstox have?

Upstox has more than 600 associate partners, including techies, educators, social influencers, Youtubers, etc.

What is the earning potential of Upstox Partner?

Regarding Upstox’s earning potential, you can receive 30% to 40% commission and extra money amounting to Rs.300 on acquiring each new customer. Additionally, you can generate an average monthly profit of Rs.1,26,000.

How can I become an Upstox Associate Partner?

To become an Upstox associate partner, you must comply with the franchise’s eligibility criteria. After clearing this stage, you must submit the necessary documents and await confirmation.

Who are Upstox Agents?

Upstox agents are the referral agents whose primary responsibility is to expand the brokerage house’s customer base by acquiring new clients via referral links.

How much is Upstox Affiliate Cost?

Upstox doesn’t charge a security deposit. But still, you have to incur exchange charges and office expenses (if you decide to have one). So, your total affiliate cost can vary from Rs.3,000 to Rs.30,000.

What is Upstox Associates Commission?

Upstox Associates’ Commission rate can be at least 30% and at most 40%.

Do Upstox Agents get back-office access?

Upstox agents get back-office access with multiple exclusive features, like lead addition links, lead stage information, monthly payout reports, etc.

Is Upstox Demat Account necessary to become a Partner?

It’s a must to open a Demat Account with Upstox to work as its partner.

How do you connect with the Upstox Partner Desk?

To connect with the Upstox Partner Desk, you can access call support by calling 022-41792999 or email support at [email protected].


Customer ratings and reviews of Upstox Partner

  • Finec says:

    Hi, Referral keeps on changing every month. It ranges from Rs.100 to Rs.500 per successful referral. Some months there are no referral bonus.

  • aadi jain says:


  • Earn 60% Commission Now!Become a Partner